Logo of Huzzle

Home

Matches

Explore

Manage

Risk-Bengaluru-Associate-Model Risk

image

Goldman Sachs

8d ago

  • Job
    Full-time
    Junior & Mid Level
  • Data
    IT & Cybersecurity
  • Bangalore, +1

AI generated summary

  • You should have strong Java and Python skills, excellent OOP abilities, 2-3 years' experience, and strong communication skills. Financial or model experience is a plus.
  • You will enhance model risk management processes, ensure compliance, develop automation tools, liaise with stakeholders, manage model validations, and maintain model inventory integrity.

Requirements

  • Strong development skills in Java and Python
  • Experience in web applications, using Spring boot, Fast API, Dash etc. is preferred but not required
  • Excellent object-oriented development skillset, to write modular, testable and scalable code
  • Strong verbal and written communication, able to communicate deliverables across various seniority levels and to both internal and external stakeholders including regulators.
  • Excellent analytical, quantitative, interpersonal, and organizational skills. Team oriented.
  • At least 2-3 years of industry experience preferred
  • Bachelor’s degree in computer science, electrical engineering, mathematics, financial engineering, or finance preferred but not required
  • Preferable: Financial industry experience. Model development and/or validation experience.

Responsibilities

  • Drive efforts to increase efficiency and automation of model risk management workflows
  • Establish, maintain and enforce the MRM framework and governance structure
  • Design and Develop automation and analytics tools for Model Risk management
  • Coordinate regulator requests on model risk management topics, respond to analysis and documentation requests, and support advocacy discussions
  • Liaise with Technology to maintain systems that support model risk management workflows
  • Coordinate with the stakeholders to translate the requirements into development tasks
  • Evaluate compliance with key regulatory rules, engage in new activity impact assessments and approvals, engage with key committees and governing bodies, and maintain key policies and procedures
  • Oversee ongoing Model performance monitoring jointly with Model Validation and enforce change control procedures
  • Manage Model validation findings, including tracking and escalation of findings
  • Manage the firmwide model inventory including maintaining model inventory data integrity by resolving exceptions from automated checks on inventory changes, resolving inquiries from model stakeholders, and providing ad-hoc analysis on model inventory
  • Work closely with model validators to understand and communicate the results of model validation activities and model limitations to internal and external stakeholders, including senior management

FAQs

What is the primary focus of the Model Risk Management (MRM) group at Goldman Sachs?

The primary focus of the MRM group is to manage risks that arise from model use across the firm's various businesses, ensuring compliance with the Model Control Policy, and providing independent oversight of model development, documentation, implementation, and usage.

What are the key responsibilities of the Associate role in Model Risk?

Key responsibilities include driving efficiency in model risk management workflows, maintaining the MRM framework, developing automation and analytics tools, coordinating regulatory requests, overseeing model performance monitoring, and managing the firmwide model inventory.

What technical skills are required for this position?

Strong development skills in Java and Python are required. Experience in web applications using frameworks like Spring Boot, Fast API, or Dash is preferred but not mandatory.

What level of experience is preferred for applicants?

A minimum of 2-3 years of industry experience is preferred.

Is a background in finance necessary for this position?

While a background in finance or financial industry experience is preferred, it is not a mandatory requirement.

What educational qualifications are considered for this role?

A Bachelor’s degree in computer science, electrical engineering, mathematics, financial engineering, or finance is preferred but not strictly required.

How important is communication in this role?

Excellent verbal and written communication skills are crucial, as the role requires communicating deliverables across various seniority levels and to both internal and external stakeholders, including regulators.

Will there be opportunities for collaboration with other departments?

Yes, the Associate will liaise with Technology and coordinate with stakeholders to translate requirements into development tasks, emphasizing teamwork and collaboration.

What kind of modeling experience is preferred for candidates?

Experience in model development and/or validation within the financial industry is preferred.

How does this role contribute to the firm's risk management program?

This role contributes by ensuring effective model governance, oversight, and compliance, thereby aiding the firm in managing both expected and unexpected risks effectively.

Goldman Sachs

Finance
Industry
10,001+
Employees
1869
Founded Year

Mission & Purpose

Goldman Sachs is a global investment banking, securities, and investment management firm. They offer a range of financial services to corporations, financial institutions, governments, and individuals. Goldman Sachs' primary activities include investment banking, asset management, securities trading, and providing advisory services. Their ultimate mission is to be a leading global financial institution, providing superior financial expertise and solutions to their clients. The purpose of Goldman Sachs is to help their clients achieve their financial goals, manage risk, and navigate complex markets. They aim to drive economic growth, foster innovation, and create long-term value for their clients, shareholders, and the communities they operate in. Goldman Sachs is committed to upholding the highest standards of integrity, professionalism, and client service, serving as a trusted partner and advisor in the world of finance.

Culture & Values

  • Partnership

    We prioritize collaboration and believe in the strength of the collective, creating a culture that fosters teamwork and belonging in the pursuit of professional and personal growth.

  • Client Service

    We lead with a service mindset, working to earn our clients’ trust and exceed their expectations by understanding and overdelivering on their goals.

  • Integrity

    We hold ourselves accountable to the highest ethical standards, insisting on transparency and vigilance from our people as we learn from our experiences and make decisions that instill a sense of pride in our firm.

  • Excellence

    We aspire to nothing less than excellence, striving for exceptional performance and superior results for our clients, our shareholders, and our communities.

Benefits

  • Holiday and Vacation Policies

    We offer competitive vacation policies based on employee level and office location. This is in addition to any number of statutory and public holidays as determined by each office. We promote time off from work to recharge by providing generous vacation entitlements and a minimum of three weeks expected vacation usage each year.

  • Financial Wellness & Retirement

    The firm provides a number of resources and offerings designed to help our employees achieve their personal financial goals. We assist employees in saving and planning for retirement, offer financial support for higher education, and provide a number of benefits to help employees prepare for the unexpected. We offer live financial education and content on a variety of topics to address the spectrum of employees’ priorities — from buying a home, to navigating market volatility and investments, legacy and estate planning, tax strategies, and will preparation.

  • Health Services

    We offer a medical advocacy service for employees and family members facing critical health situations, and counseling and referral services through the Employee Assistance Program (EAP). We provide Global Medical, Security and Travel Assistance and a Workplace Ergonomics Program. We also offer state-of-the-art on-site health centers in certain offices.

  • Childcare / Family Care

    In some offices, we offer on-site child care centers that provide full-time and emergency back-up care, as well as mother and baby rooms and homework rooms. In every office, we provide advice and counseling services, expectant parent resources and transitional programs for parents returning from parental leave. Adoption, surrogacy, egg donation and egg retrieval stipends are also available.

  • Flexible Working

    Based on manager approval, the following arrangements may be available to help employees meet their personal and family responsibilities: part-time schedules, job sharing, telecommuting, and alternate hours.